This study examined the effects of perceived job insecurity and psychological capital on employees' organisational commitment and job satisfaction. It also explored the moderating role of psychological capital in the relationships between perceived job insecurity and the two attitudinal outcomes. Drawing upon literature on work stress, psychological contracts and positive psychology, several hypotheses were developed and tested with a data set consisting of 257 workers employed in various occupations in Hong Kong. Regression analyses showed that perceived job insecurity had a significant negative effect on both organisational commitment and job satisfaction. As expected, the three components of psychological capital (ie hope, resilience and optimism) predicted organisational commitment and job satisfaction in a positive manner. This study also showed that only resilience, but not hope and optimism, moderated the relationships between perceived job insecurity and the attitudinal outcomes.